Photo Release -- HII Awarded $745 Million Contract to Inactivate USS Enterprise (CVN 65)

Photo Release -- HII Awarded $745 Million Contract to Inactivate USS
Enterprise (CVN 65)

NEWPORT NEWS, Va., June 28, 2013 (GLOBE NEWSWIRE) -- Huntington Ingalls
Industries (NYSE:HII) announced today that the company has received a $745
million cost-plus-incentive fee contract for the inactivation of the aircraft
carrier USS Enterprise (CVN 65). The work will be done at HII's Newport News
Shipbuilding (NNS) division.

USS Enterprise (CVN 65)
 HII received a $745 million contract to
 inactivate the aircraft carrier USS
 Enterprise (CVN 65). The ship was towed
 to Newport News Shipbuilding on June
 20. Photo by Ricky Thompson

A photo accompanying this release is available at
http://media.globenewswire.com/hii/mediagallery.html?pkgid=19645

The ship was towed from Naval Station Norfolk to NNS on June 20 under the
existing planning contract. NNS will defuel the ship's eight reactors and
prepare Enterprise for its eventual transit to Puget Sound Naval Shipyard and
Intermediate Maintenance Facility. The work is scheduled to complete in August
2016. More than 1,000 employees will support her inactivation.

"Although Newport News Shipbuilding has defueled and refueled many ships,
including Enterprise, this is the first inactivation of a nuclear-powered
aircraft carrier," said Chris Miner, NNS' vice president, in-service aircraft
carrier programs. "Our shipbuilders know Enterprise well and have enjoyed
working on her over her decades of service. We are extremely proud of her
great legacy, so it is with heavy hearts that we will work to retire this
one-of-a-kind ship."

Built by Newport News shipbuilders and launched in September 1960, Enterprise
served a record 51 consecutive years. The ship was the world's first
nuclear-powered aircraft carrier and the only one in her class. Enterprise
aided in the Cuban Missile Crisis and operations Enduring Freedom and New
Dawn, as well as naval maritime security operations.

Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and
non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market
services for military ships around the globe. For more than a century, HII has
built more ships in more ship classes than any other U.S. naval shipbuilder at
its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Employing
about 37,000 in Virginia, Mississippi, Louisiana and California, HII also
provides a wide variety of products and services to the commercial energy
industry and other government customers, including the Department of Energy.
For more information about HII, visit: 

  *HII on the web: www.huntingtoningalls.com
  *HIIon Facebook: www.facebook.com/HuntingtonIngallsIndustries
  *HII on Twitter: twitter.com/hiindustries

Statements in this release, other than statements of historical fact,
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties that could cause our actual results to differ
materially from those expressed in these statements. Factors that may cause
such differences include: changes in government and customer priorities and
requirements (including government budgetary constraints, shifts in defense
spending, and changes in customer short-range and long-range plans); our
ability to obtain new contracts, estimate our costs and perform effectively;
risks related to our spin-off from Northrop Grumman (including our increased
costs and leverage); our ability to realize the expected benefits from
consolidation of our Gulf Coast facilities; natural disasters; adverse
economic conditions in the United States and globally; and other risk factors
discussed in our filings with the U.S. Securities and Exchange Commission.
There may be other risks and uncertainties that we are unable to predict at
this time or that we currently do not expect to have a material adverse effect
on our business, and we undertake no obligations to update any forward-looking
statements.

CONTACT: Christie Miller
         Christine.Miller@HII-co.com
         (757) 380-3581

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